BREAKING: FG suspends subsidy removal, Says Tinubu’s government to take final decision

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The Federal Government has suspended the planned removal of subsidy on petroleum products by the end of President Muhammadu Buhari’s administration.

The decision was taken at the National Economic Council meeting presided by Vice President, Yemi Osinbajo.

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed who disclosed the information while briefing State House correspondents said that the removal of the subsidy will likely take effect in June because the Petroleum Industry Act, PIA and the 2023 budget provided subsidy till June, hence any delay may require the amendment of the PIA and the budget provision.

She, however, said that there was no deadline given for the subsidy removal and that the Tinubu’s administration will take decision on when possible to do that.

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